PPP Loan Data — Thrive Mortgage LLC, Georgetown, TX
Thrive Mortgage LLC is a limited liability company (LLC) located at 4819 Williams Dr in Georgetown, Texas that received a Coronavirus-related PPP loan from the SBA of $3,902,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Thrive Mortgage LLC in Georgetown, TX received a Paycheck Protection Loan of $3.9M through Independent Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in August, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Thrive Mortgage LLC's 2019 payroll expenses are estimated to be at least $18.73M.
Based on their reported 303 jobs retained, this equals an estimated average yearly compensation of $61,827 per employee1
Reported PPP Proceed Usage:
On the PPP application, Thrive Mortgage LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,324,132
- Utilities: $10,000
- Mortgage Interest: $20,000
- Rent: $240,000
- Health Care: $308,668
Business Information - Thrive Mortgage LLC in Georgetown, TX
4819 Williams Dr
Georgetown, TX 78633
NAICS code 522130
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 112 businesses in the "Credit Unions" industry received a total of $8.27M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 8 employees, 97% lower than Thrive Mortgage LLC's reported 303 employees, and received an average PPP loan of $73,836, 98% lower than this company's loan of $3.9M.
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Footnotes & Information
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